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Venture Capital

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BUSINESS
December 8, 1986 | By Janet L. Fix, Inquirer Staff Writer
Wanted: Clever companies with bright futures for making big bucks in the Mid-Atlantic region. Which is what the newly formed Meridian Venture Partners is on the outlook for. With financial backing from Meridian Bancorp and the blessing of the Small Business Administration, MVP general partners Raymond R. Rafferty Jr., George P. Keeley, Robert E. Brown Jr. and John J. Serrell, announced this week the formation of what they not-so-succinctly call...
BUSINESS
October 11, 2011 | By Erin E. Arvedlund, Inquirer Columnist
Public stock and bond markets got you down? Venture capital is starting to look good again. VC and angel funding have rebounded strongly since 2008 and the financial crisis, and Golden Seeds Fund 2 L.P. , a vintage 2011 fund, is just one example. The fund is focused on making early-stage portfolio investments, such as Cognition Therapeutics Inc., a Pittsburgh life-sciences company, and is building a portfolio of 20-plus investments through 2013. Golden Seeds is a network of angel investors wagering on start-ups at a time when small business needs financing more than ever.
BUSINESS
December 27, 1989 | By Larry Fish, Inquirer Staff Writer
Cigna Corp. said yesterday that it was selling most of its venture-capital investment portfolio to a Connecticut investment company for "in excess of $100 million. " Landmark Ventures Inc., previously known as Technology Transitions Inc. and based in Simsbury, Conn., has a definitive agreement to buy 54 venture-capital partnerships that have 1,200 investments in nearly 800 companies, according to a joint statement. Cigna is retaining an interest in six limited partnerships and some direct investments in a few private companies but has otherwise decided to withdraw from venture capital to concentrate on long-term mortgages, private placements and leveraged buyouts.
BUSINESS
August 21, 2000 | By Rosland Briggs-Gammon, INQUIRER STAFF WRITER
Venture capitalists pumped more money into Philadelphia-area companies during the first half of 2000 than they did in all of 1999. Through June 30, 91 area companies received venture investments totaling $634.6 million, according to PricewaterhouseCoopers' Money Tree survey of venture capitalists. In all of 1999, 101 companies received $482.8 million. "The region is doing quite well. It's an evolutionary rather than revolutionary phenomenon that we're seeing," said Mark DeNino, managing director of TL Ventures in Wayne.
BUSINESS
April 10, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Also in this column: First USA growing again PMG Capital to sell? It's bad enough that the venture capital business has just reported the worst quarter in its history. It also looks as if some of that history will have to be rewritten. The weak tech stock market has made it unlikely that venture capital investors may ever realize some of the fat profits that venture fund managers reported for previous years, according to analysts at New York-based Venture Economics.
BUSINESS
December 5, 2011 | By Mike Armstrong, Inquirer Columnist
By and large, entrepreneurs and venture capitalists are fonts of eternal optimism. You can understand that because both groups firmly believe there is no problem that can't be solved. And exploiting new technology is generally the way they solve those problems. So if you get a bunch of investors and start-ups together in the same room in Philadelphia and survey them, as KPMG L.L.P. did last week, then you're likely to hear that things can only be getting better and better.
BUSINESS
January 24, 2012 | By Mike Armstrong, Inquirer Columnist
Venture-capital financings probably get more attention than they deserve in the media, but I understand why. Precious little information is available about many private companies. Also, closely held firms tend to be stingy about disclosing numbers, including those on sales and employment. Though only a small fraction of all businesses attracts investment from venture funds annually, successfully raising a round of capital suggests that a group of financial professionals (who have looked at the crucial numbers)
BUSINESS
February 21, 2000 | By Ambre S. Brown, INQUIRER STAFF WRITER
If you wanted to follow the venture money in 1999, most trails led to Internet firms. Philadelphia-area Internet-related businesses attracted multimillion-dollar investments from venture capitalists last year, leading the region to almost a half-billion dollars in venture financing. The Inquirer/PricewaterhouseCoopers Venture-Capital Survey shows that $474.9 million was invested in Philadelphia-area companies last year, an increase of more than 50 percent over 1998. In the fourth quarter alone, $171.
BUSINESS
February 15, 1999 | By Henry J. Holcomb, INQUIRER STAFF WRITER
Bentley Systems Inc., a rapidly growing engineering software company, attracted more venture capital last year than any other computer-technology firm in the Philadelphia region. And the Exton company appears to be on its way to becoming a textbook example of how to attract venture capital, and when to go public. In this region, the $15 million it attracted, all from Bachow & Associates Inc. of Bala Cynwyd, was second only to OraPharma Inc. of Warminster, a dental-products firm that received $16 million.
BUSINESS
June 23, 2008 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Michael DiPiano and Marc Lederman did what investors are supposed to do: they bought low, almost at the bottom of the dot-com bust in 2000. Today, thanks to their nerve back then and a lot of time spent picking over local start-ups, their Radnor-based NewSpring Capital L.P. has grown into a $500 million venture firm with holdings ranging from online technology to food packaging, while staying rooted in a region not known as a venture capital center....
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NEWS
September 18, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - The director of the agency that manages New Jersey's $80 billion pension fund confirmed Tuesday that the state had sold its stake in a fund managed by a venture-capital firm with ties to a prominent Massachusetts Republican, months after the investment drew scrutiny over pay-to-play concerns. The state earlier this month sold its interest, valued at $12.7 million, in General Catalyst Group VI for $14.1 million in cash to Washington University in St. Louis, the Treasury Department said.
BUSINESS
January 19, 2014 | By Harold Brubaker, Inquirer Staff Writer
Venture capitalists invested $420.3 million in Philadelphia-area companies last year, up 1.2 percent from the year before, according to the MoneyTree Report by PricewaterhouseCoopers L.L.P. and the National Venture Capital Association. The report, released Friday and based on data from Thomson Reuters, also showed that venture capitalists nationally invested $29.4 billion in 3,995 deals, a 7 percent increase in dollars and a 4 percent increase in deals. Locally, the number of companies receiving venture capital equity investments increased 9.9 percent to 122 from 111. In the fourth quarter, 34 Philadelphia-area companies received $81.6 million in investments.
BUSINESS
November 4, 2013 | By Chris Hepp, Inquirer Staff Writer
Philadelphia's salesman-in-chief launches his international pitch Sunday at London's iconic Savoy Hotel, which boasts itself as "brilliantly reinvented for the 21st century. " That's not quite Mayor Nutter's claim for Philadelphia, but not terribly far from it. For the next eight days, first in London and then Tel Aviv, Nutter and a small armada of area agencies, boosters, and businesses will sell Philadelphia as a world-class city open, as the mayor says, for business. Nutter and his contingent, among other things, are looking to persuade overseas companies to expand to Philadelphia and consider partnerships and sales agreements with firms in the area.
NEWS
October 31, 2013
MAYOR NUTTER leaves Friday on a 10-day trade mission to the United Kingdom and Israel. When his delegation gets to Tel Aviv, there will be plenty to see and learn. Other cities look with envy at Tel Aviv, a sister city to Philadelphia. And no wonder: Israel attracts nearly twice the venture capital per capita of the U.S., and has 5,000 startups per capita, more than any other country despite a population of just 7 million. Berkshire Hathaway, chaired by Warren Buffett, made its first investment outside the U.S. in 2006 when it paid $4 billion for an 80 percent stake in Israeli tool-maker Iscar Metalworking.
BUSINESS
October 26, 2013 | By Chris Hepp, Inquirer Staff Writer
Philadelphia jumped into venture capitalism with both feet Thursday, investing in wild rice masala with seared salmon. Well, that might be a bit misleading. The city, through Startup PHL Seed Fund, has invested in Real Food Works, a young company that delivers fresh, healthy meals to clients looking to eat well and lose weight. Startup PHL, a joint effort of the city's Commerce Department and the Philadelphia Industrial Development Corp. (PIDC), will provide $200,000 in seed money to Real Food.
BUSINESS
October 15, 2013 | By Jane M. Von Bergen, Inquirer Staff Writer
The University City Science Center celebrates its 50th anniversary on Thursday, touting its record as the nation's oldest urban research park. Its incubator hatched 350 firms, with 93 still local. Famous hatchlings include SEI Investments, Bentley Systems, and Centocor. Buckminster Fuller, inventor of the geodesic dome, was "resident genius" in the 1970s. These days, chemical engineer and business executive Stephen S. Tang, 53, leads the nonprofit science center, which now includes 16 buildings, housing 70 companies and 30 new ventures, together employing 8,000.
NEWS
September 19, 2013
IN 1991, GEORGE Gendron, then-editor of Inc. magazine, penned a column about the best places to do business in the United States. He wrote that Philadelphia was "the Baghdad of the U.S. economy. Nothing works. Don't tell me about all the hot young Philly growth companies. Of the 20 Inc. 500 companies in the metro area, 19 are located as far out of town as they can get. " So what's changed in 22 years? Not much, according to a report Sept. 4 on the website The Atlantic Cities.
SPORTS
May 12, 2013
Sam Hinkie just completed his eighth full season with the Rockets. He has been the executive vice president of basketball operations since 2010. He was hired in Houston as the youngest vice president in the NBA in 2007. Before that, he spent two seasons as special assistant to the Rockets general manager. He is seen as an expert in analytics, the day-to-day management of basketball operations, the salary cap, and scouting college and other pro players. Before joining the Rockets, Hinkie advised two NFL teams on draft strategies and using statistical analysis to improve decision making.
BUSINESS
April 23, 2013 | By Mike Armstrong, Inquirer Columnist
Venture-capital activity may have been down in terms of deals and dollars during the first quarter nationwide, but the second-tier Philadelphia market did pretty well. Thirty-three companies raised $142.4 million during the first three months of 2013, compared with 44 companies attracting $54.5 million during the fourth quarter, according to the PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report. SevOne Inc. , a Wilmington software developer, was listed as the big wheel landing the biggest deal: $60 million.
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